The Wolverine State’s sports betting operators enjoyed a 12.1% February hold that boosted year-over-year gross revenue by 54%.
The Michigan Gaming Control Board reported commercial and tribal sportsbooks hauled in $46.8 million during Super Bowl month. With just one football game to rely on, Michigan bettors wagered $388.1 million, a 6.7% year-over-year decrease and the lowest monthly handle since Aug. 2024.
Adjusted operator revenue reached $28.1 million, resulting in a tax payout of $1.5 million to the state.
Bettors wagered nearly $380 million through online sportsbooks, a 31.6% decrease from January. Michigan’s three retail operators made over $820,000 from an $8.2 million handle.
Record start to 2025
Combined with January’s record $83 million in gross revenue, this marks the best two-month start to a year since online sports betting launched in 2021. The 12 mobile operators and three retail sportsbooks made over $132 million. It took three months, including March Madness profits, to reach that figure last year.
Although the amount wagered was 5% less during last January and February, revenue was up 65%. The reason is higher win rates. This is the first time Michigan sports betting operators had consecutive months with holds of at least 12%.
FanDuel records highest hold
| Online Operator | February Handle | Revenue |
| FanDuel | $142.9 million | $23.7 million |
| DraftKings | $106.6 million | $12.8 million |
| BetMGM | $54.7 million | $4.9 million |
| Fanatics Sportsbook | $24.7 million | $2.2 million |
| Caesars | $19.7 million | -$78,978 |
| ESPN BET | $18 million | $1.7 million |
FanDuel led all mobile operators in February with a $142.9 million handle, down $75 million from the previous month. Gross revenue also fell significantly, but the online book still did well for Super Bowl LIX, hauling in over $20 million for the second consecutive month, thanks to a 16.6% hold.
DraftKings went over $100 million in wagers for the month, and its win rate held with February’s average to create $12.8 million in profits. BetMGM took in nearly $55 million, but a hold under 9% led to $4.9 million in gross revenue.
Fanatics Sportsbook finished fourth with a $24.7 million handle, while Caesars took a rare revenue loss during Super Bowl month on a $19.7 million haul. ESPN BET made $1.7 million on $18 million in February wagers.
iGaming streak concludes
The MGCB reported online casino gaming generated $222 million in gross income during February, down 10.5% from the all-time mark of $248.2 million. February also ended a four-month streak of setting new iGaming revenue records.
Adjusted $209.1 million in revenue was up 23.6% year-over-year. The 15 online casino operators paid the state over $42 million in taxes.
